Sunday, August 07, 2016

Trump Obamanomics

In general terms he will be lowering marginal tax rates on both large and small businesses and on all income classes. He also will propose a hike in the standard deduction for families and special deductions for childcare and the elderly.

All of these policies will help the middle class. Trump’s plan will generate substantial new investment, business formation, jobs, and growth -- and hence higher wages.

Trump is the pro-growth candidate in this race. Hillary Clinton is the anti-growth candidate. Trump wants to expand national income and the economic pie. Clinton wants to redistribute income and shrink the pie.

The article goes on to point out the pro-growth tax reductions of Kennedy (who cut capital gains taxes) and Reagan (who cut income taxes). Conservatives know the drill. But that nine-word sentence -- All of these policies will help the middle class. -- is the key to understanding the political war that has waged throughout my lifetime. Liberals havealways tried to destroy the middle class, a group they mock and ridicule incessantly

Liberals took over cities, but thanks to the Interstate system and freeways, the middle class people were able to escape to the suburbs.

Liberals began all sorts of entitlement programs to help the poor, but instead they destroyed the work ethic. Free WiFi is now a right? Really? And food stamps have fueled childhood obesity among the welfare class, formerly known as "the poor."

Liberals and big business teamed up to export manufacturing jobs, while at the same time importing illegal and cheap labor to take the jobs that remained. Reagan fought this as he imposed punitive tariffs to protect American industry. Specifically, he saved Harley Davidson.

Don't be fooled. Liberals hate the middle class and would destroy it, because that is what every single socialist and communist state does. See Venezuela. That is how crooks hold onto power. See Hugo Chavez, the Castro Brothers, and if elected, Hillary.

Trump will have to deal with an increase in interest rates, as the Federal Reserve ends its quantitative easing scam that it uses to prop up the Obama presidency. The Fed is not about to make life easy for a Republican or pseudo-Republican president. The interest on our huge national debt will skyrocket will make it difficult for Trump to cut taxes across the board. I would have no objection if he lowered the tax liability of the stressed middle class but increased taxes on the upper 1% who thrive on the crony capitalism of Hillary and Obama. More importantly, Trump needs to resurrect the antitrust division of the DoJ and go after monopolistic companies like Amazon and Facebook. Breaking up Amazon would do much more good for small local stores than an internet tax would ever do.

Every dollar you give Jeff Bezos allows him all the more to corrupt politics through huge donations to PACs and the public discourse via the WaPo, which he also owns. Maybe not Bezos himself, but people LIKE Bezos are central to the crony capitalism of Obama and Clinton. In the long run, monopolies harm society more than they benefit it. It is about time for someone in the Justice Department to take a long, hard look at an Amazon that is trying to be All Things to All People. And Google. And Facebook.

Saw a news item today, which reports that the Japan Fair Trade Commission is investigating Amazon Japan for unfair trade practices under the country's anti-monopoly laws. It's not the US, but it's a start.

Corporations don't pay taxes, their customers do. What is needed is to whittle Big Government down to size. It is consuming entirely too much money. And when you subsidize idleness by paying people not to work you will get more people not working. Ditto paying single mothers. Ditto food stamps. Government handouts should be eliminated and replaced with voluntary charitable contributions. The primary job for government is defense, not cradle to grave support. - Elric

About Me

I live in Poca, West Virginia, with my lovely wife of 40 years, Lou Ann. I am an Army veteran and Cleveland State graduate. I retired after 40 years as a newspaperman. In 2016, I published "Trump the Press," which drew rave reviews at Power Line and Instapundit.